Global Economic Monitoring Branch (GEMB)

January 2009 Summary: There are increasing signs that the world economy is entering a recession. Slowing global demand underpinned a further decline in oil prices. Weakening economic conditions led to further accommodative policy actions. Deteriorating ...

December 2008 Summary:  The world is now mired in the most severe financial crisis since the Great Depression. According to the United Nations baseline forecast, world gross product (WGP) is expected to grow by only 1.0 per cent in 2009, a sharp decele ...

November 2008 Summary: In response to the intensified global financial crisis, a large number of countries adopted extensive emergency plans in October 2008, following a more comprehensive and internationally concerted approach. However, great uncertai ...

October 2008 Summary:  The world economy is facing the most severe financial crisis since the Great Depression of the last century. The risk for a global recession has heightened significantly and volatility of commodity prices has increased further. I ...